Nanjing launches $1.5 billion blockchain investment fund

City of Nanjing, capital of Jiangsu province, China, with Zhongguancun Blockchain Industry Alliance, a Beijing-based alliance formed by blockchain companies and government research institutes, announced establishing $1.48 billion investment fund at the inaugural Industrial Public Chain Summit (IPCS) attended by Luo Qun, deputy secretary of the Communist Party of China in Nanjing, among other high-level local government officials. Among the fund’s first beneficiaries will be the UDAP Foundation and TokenX Community.